Stripe is expanding its crypto and Web3 footprint once again. After acquiring stablecoin infrastructure company Bridge, the financial services and SaaS giant has now agreed to buy Privy, a provider of crypto wallet infrastructure. The transaction was first reported by Bloomberg and later confirmed by Privy in a post on X.
No financial terms were disclosed. Privy said that once the acquisition is completed, it will continue to operate as an independent product. Founded in 2021, the company focuses on making it easier for developers to integrate crypto wallets directly into digital products, reducing friction for end users.
Privy’s Role in Wallet Infrastructure
Privy’s tools are already used across a range of platforms. OpenSea, for example, uses its technology to let users buy NFTs directly without relying on browser extensions such as Metamask. Other customers include restaurant rewards platform Blackbird and global payroll provider Toku, showing that Privy’s reach extends beyond purely crypto-native applications.
According to the company, Privy currently powers wallet services for more than 75 million accounts across over 1,000 teams. The New York-based startup was launched by CEO Henri Stern and Asta Li and has raised $40 million from investors including Ribbit Capital and Coinbase Ventures. Bloomberg reported in March that Privy carried a $230 million valuation.
Stripe Builds Out Its Crypto Stack
The acquisition marks another step in Stripe’s broader blockchain infrastructure strategy. Earlier, Stripe bought stablecoin infrastructure firm Bridge for $1.1 billion. Stripe CEO Patrick Collison said that combining Privy’s wallet technology with the money movement capabilities of Stripe and Bridge on a unified platform could help enable a new generation of global, internet-native financial services.
Strategically, the two acquisitions appear complementary: Bridge strengthens stablecoin and onchain money movement, while Privy improves wallet onboarding and user experience. Together with Stripe’s existing payments network, that combination could give developers a more complete toolkit for building Web3 payments and digital financial products for a global audience. The deal remains subject to customary closing conditions and is expected to close in the coming weeks.